Director Don Leung Sells 26,266 Shares of MetroCity Bankshares Inc (MCBS)
On July 15, 2024, Director Don Leung executed a sale of 26,266 shares of MetroCity Bankshares Inc (NASDAQ:MCBS). The transaction was filed on the same day through an SEC Filing. Following this transaction, the insider now owns 1,055,201 shares of the company.
MetroCity Bankshares Inc operates as the bank holding company for Metro City Bank, which provides a range of banking products and services in the United States. It caters to the needs of small to medium-sized businesses, real estate investors, and individuals.
The shares were sold at a price of $28.5 each, valuing the transaction at approximately $750,579. The sale occurred at a time when the stock's market cap stands at $720.374 million, with a price-earnings ratio of 14.51, which is above the industry median of 9.875.
According to the GF Value, the intrinsic value of the stock is estimated at $20.50 per share, suggesting that the stock is currently Significantly Overvalued with a price-to-GF-Value ratio of 1.39.
Over the past year, the insider transaction history at MetroCity Bankshares Inc shows a pattern of more sales than purchases among insiders, with 3 insider sells and 2 insider buys. The insider, Don Leung, has not purchased any shares within the past year but has sold a total of 26,266 shares.
This recent sale by Director Don Leung continues the trend of insider selling at MetroCity Bankshares Inc, which investors might want to consider in the context of the company's current valuation and stock performance.
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